Bitcoin Bits: 28 May, 2016

Could it be that the co-founder of Coinbase is throwing down a challenge?

“To be clear, I don’t think this needs to be a contest between Bitcoin vs. Ethereum and Coinbase plans to strongly support both. I think this is about advancing digital currency as much as we can. There is a significant amount of overlap between the two, however, so the comparison is valuable and the potential for competition is real.”

So, apparently not, although you wouldn’t guess that from the title. Or the rest of the article, which details some of Ethereum’s advantages: more flexible programming, a more robust developer community, a “healthier” core team, a growth mindset and faster progress.

“Make no mistake — Ethereum would never have existed without Bitcoin as a forerunner. That said, I think Ethereum is ahead of Bitcoin in many ways and represents the bleeding edge of digital currency.”

I’m wondering if “dumping banks” in favour of bitcoin will become the new “cord cutting” (dumping cable TV in favour of streaming services).

“I don’t know about you, but honestly I’m sick and tired of the banking system. For one thing, I’m sick of being told to “trust” that my money is safe, even when I have no idea where it is or who is controlling it. With bitcoin, this is never an issue.”